Women’s capital isn’t retreating, it’s evolving, but advice has a key role to play

A new report suggests women are not pulling back from private markets as capital conditions tighten. Instead, their approach to investing is becoming more deliberate, values-driven and structured, pointing to a maturing source of capital rather than a retreating one.

The Women, Wealth & the Capital Continuum report from How Women Invest and How Women Lead is based on a sentiment survey of current and aspiring women investors. It examines how women are engaging with venture capital and other private investments during a period marked by fundraising challenges and heightened economic uncertainty.

The findings challenge the assumption that difficult market conditions have sidelined women investors. Instead, the report shows women continuing to deploy capital, but with clearer intention and alignment to both financial and social priorities.

Among respondents from the How Women Invest community, nearly 94% have already made at least one private market investment and 67% say they plan to commit between $25,000 and $49,000 to venture funds in 2026, an allocation level viewed by many as meaningful but measured.

This behavior reflects a broader theme in the research of women prioritizing thoughtful participation over aggressive expansion. Investment decisions are increasingly shaped by long-term impact, diversification and risk awareness rather than short-term momentum.

A majority of respondents report that gender diversity meaningfully influences their investment choices or is a requirement when selecting funds or companies. The emphasis on representation and inclusion is presented not as a concession to values over returns, but as an integrated part of how women assess opportunity and risk.

"In a market where caution is the norm, the data tells a different story for women investors," said Julie Castro Abrams, CEO and Managing Partner of How Women Lead and How Women Invest. Women operators, those who have founded or led companies through a liquidity event and generated meaningful personal returns, are entering private markets deliberately and bringing more women to the table alongside them. With nearly 90% having already invested and 2026 allocations clustering around defined, repeatable check sizes, the data points to disciplined participation rather than speculative risk-taking."

Contrasting confidence

The report also highlights a contrast between two audiences. While the How Women Invest group shows relatively high engagement and confidence in private markets, respondents from the How Women Lead network — a broader community of senior executive women — are earlier in their private investing journeys. Only 19% of this group describe themselves as very or extremely confident in making private market investments, and 44% say they lack a defined strategy for venture allocation.

According to the report, this gap is less about appetite for investing and more about access to education, peer networks and clear pathways into private markets. Many respondents indicate they are interested and financially capable but need better frameworks and guidance to move forward with confidence.

Across both groups, sector preferences show notable alignment. Women investors express strong interest in areas such as women’s health, healthcare delivery, artificial intelligence and data, and financial innovation. These sectors reflect a focus on long-term demand and practical application rather than speculative trends.

Overall, the report portrays women investors as increasingly intentional participants in private markets. Capital is being deployed carefully, with attention to impact, governance and sustainability. With stronger infrastructure and support, the authors suggest women’s capital could play an even larger role in shaping the future of venture and private investing.